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CFO

Services

Fractional Chief Finance Officer (CFO)

  • Functional Roles
  • CFO

Not every company may need a full-time CFO, but every business needs financial and operational expertise.

What does a Chief Finance Officer do?

A Chief Financial Officer (CFO) is one of the crucial resources that every competitive firm needs in order to reach the next level in its development. The multi-faceted, well-experienced and highly competent finance and accounting head is responsible for among other things:

  • Building sustainable corporate finance and accounting operations
  • Identifying and securing capital needs
  • Coaching executive performance for defined targets and metrics
  • Communication with the Board of Directors and financial reporting to key stakeholders
  • Contributing to the development and execution of long-term strategy
  • Identifying, diagnosing, and integrating mergers and acquisitions
  • Ensuring technology advancement and utilization
  • Facilitating audit and compensations committees needs
  • Guiding continual enterprise risk management
  • Overseeing international governance and expansion
  • Developing and implementing aligned executive compensation

A CFO will also oversee treasury and cash management, financial modeling, options and compensation plans, business performance and cash flow, partner/vendor management, Board of Directors management, investor communications, payroll, accounts payable and accounts receivable functions, and any activities tied to turnaround, restructurings and divestitures.

Whether you need strategic finance and accounting leadership, efficient cash and capital management, or guidance on an M&A or exit strategy, a Fractional CFO can provide the specialized expertise your organization requires.

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Fractional CFO Services

A Fractional CFO first and foremost, needs to understand the workings of your company. They have to be in harmony with the company’s vision, mission, objectives, and long-term goals for there to be a productive business relationship.

With capital needs, strategic objectives and financial and performance metrics constantly changing, a fractional CFO needs a steady hand, sound experience while balancing an eye on the future.

An open and realistic mind is invaluable as well. It is important to find a balance between a business’ necessities and luxuries they can do without. Minimizing cost while maximizing profits is every business’ mantra.

With a business’ objectives as a guiding map, and personal experience, insight and relevant technology as a shining light, navigating through challenges becomes much easier and manageable.  Here are four things to look for in a CFO:

Collapse Fit

While developing a rapport with the CEO and management team is a must, a good cultural fit with the rest of the team is important too. The CFO should have a “been there, done that” attitude, but also be creative and flexible enough to adapt to the team and its culture.

Expand Experience

A CFO with years of experience working with similar companies can enhance the management team, provide credibility with your board and investors and generally raise the level of professionalism at the company. Experience with your specific industry is a plus.

Expand Leadership

The CFO should be a natural leader and have the gravitas to slip into a leadership role, even on a part-time basis.

Expand Can-Do Attitude

Small companies often don’t have the resources to provide a lot of support. So the CFO must have a can-do attitude and be willing to do what’s necessary to support the company.

What to Expect from TechCXO Fractional Chief Financial Officer (CFO)

Collapse Expert Cash Management

How much money do we have and how far will it take us? What’s plan B (and C and D) for raising cash? Debt, equity, equipment financing? These are questions that your CFO should be able to answer with precision, but to do so requires a good cash forecast that includes a realistic view of inflows, outflows and the likelihood of achieving milestones in a specified timeframe.

Expand Tight Budgeting Processes

Budgeting not only provides a roadmap, but the process of putting together a budget serves to align the management team and engenders important and sometimes difficult discussions. It’s a key part of team building. Too often, a team will overestimate their sales and underestimate the time it will take (and therefore the $s) to achieve their targets. Budgets should reflect reality and not aspirations, though it’s okay to have a couple scenarios (e.g. upside, base case, downside).

Expand Insightful Variance Analysis

It’s not enough to have a budget. Management must use the actual financial results as a critical feedback loop to refine its budgeting and forecasting efforts. Using actual results and comparing those against the assumptions your team worked so hard to develop is the best way to figure out what’s working and what’s not – and then taking decisive action to reinforce the good and correct the bad.

Expand KPIs that Build Teams

KPIs can build teams. We all have a hundred things on our to-do lists, but only 5 to 10 will truly turn the needle and make an impact on the business. It’s crucial for the team to discuss what those 5 to 10 metrics should be and then agree on a plan for reporting on their metrics in a timely and accurate fashion. This is often done in the form of a dashboard on a daily, weekly or monthly basis to help the team steer the ship. It’s also a great tool for managing the company’s board of directors and holding the team accountable to an agreed set of priorities.

Impact

Raised Credibility

Increased credibility with Board, prospects, partners, investors and suppliers

Upgraded Management

An upgrade from general bookkeeping to a real finance and accounting department

Optimized Profits

Efficient capital, effective cash management, and improved working capital

Swift Execution

Improved negotiation of contracts and agreements, as well as improved audits

Our Team

Mark-Zadell

Mark Zadell

Partner
Michael-Weinstein

Michael Weinstein

Partner
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Robert Toth

Partner
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Chris Thomajan

Regional Managing Partner
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Gary Strickland

Partner
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Ted Stone

Regional Managing Partner
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Morris Stemp

Partner
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Debbie Schleicher

Partner
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Jason Scherr

Partner
Paul Sansone

Paul Sansone

Regional Managing Partner
Andrew-Roberts

Andrew Roberts

Partner
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Karen Reynolds

Partner
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Sharon Reese

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Brian Rauls

Partner
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Sanjay Pothen

Partner
Barry-Pincus

Barry Pincus

Partner
Lori Parro Fractional CFO

Lori Parro

Partner
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Viraj Parikh

Regional Managing Partner
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Martha Parker

Partner
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Tom Morton

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Neal Miller

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Joseph Migliozzi

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Maura McInerney

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Mike McEachern

Partner
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Mike McCarthy

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Michael Levine

Partner
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Sherwin Krug

Partner
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Dale Kirkland

Partner
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Joe Johnston

Partner
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Chris Joe

Partner
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Joe Jessup

Partner
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Pat Henn

Partner
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Keith Heffron

Partner
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Gerry Hayden

Partner
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Ron Giaquinto

Partner
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Mark Gagne

Partner
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Emmett Ferri

Partner
Kent Elmer

Kent Elmer

Managing Partner
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Bob Dennen

Partner
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Ben de la Cretaz

Partner
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Jim Corr

Regional Managing Partner
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Frank Connolly

Partner
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Mike Casey

Practice Managing Partner
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Kerry Byler

Partner
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Adam Bryan

Partner
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Liam Brenner

Partner
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Michael Boudreau

Partner
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Peter Biro

Partner
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Rajiv Bhagat

Partner
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Dan Benetz

Partner

Related services

 

  • Monthly Close
  • Financial Reporting
  • Board Support
  • Internal Controls
  • Cash Management
  • Capital Requirements
  • Forecast and Modeling
  • KPIs
  • Debt and Equity Financing

Insights

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TechCXO Returns to Inc 5000 List

08/28/2024
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The Start-Up’s Guide to Extending Your Cash Runway

04/10/2024
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TechCXO Reports Full-Year Revenue Growth for 2023; 20th Straight Year of Top-Line Growth

03/12/2024
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Questions?
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Unfamiliar with how executives on demand works? We pioneered this unique model and are happy to guide you step by step. Schedule a call or send an email today to get started.

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